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  1. Draw PPP Loan. If you are not eligible to use this form, you must apply for forgiveness of your PPP loan using SBA Form 3508 or 3508EZ (or lender’s equivalent form). Each PPP loan must use a separate loan forgiveness application form. You cannot use one form to apply for forgiveness of both a First and Second Draw PPP loan.

  2. Jan 19, 2021 · SBA form 3508. PPP Loan Forgiveness Application + Instructions . Effective Jul 30, 2021. By Office of Capital Access. Download .pdf. PPP Loan Forgiveness Calculation ...

  3. The initial PPP loan program was intended to allow only one loan per EIN. However, as of the revisions in late 2020, if you already received PPP funding but qualify and can demonstrate sufficient economic harm, you may be eligible for a “second draw” PPP loan (see above).

  4. Feb 10, 2021 · Virgin Islands, American Samoa, Guam, and CNMI: Businesses must provide an e-signed IRS Form 4506-T to the SBA via the application portal. Puerto Rico: The SBA will send required forms via email to the applicant. Please complete the forms and send them back to the SBA. Eligibility 10. My business moved since I originally applied for EIDL ...

  5. Apr 05, 2021 · The Small Business Administration (SBA) Office of Hearings and Appeals (OHA) allows PPP loan borrowers to appeal certain SBA loan review decisions. If the SBA decides that you do not qualify for PPP loan forgiveness, you may be able to start the appeal process with the OHA.

  6. Self-employed individuals (including independent contractors) who file IRS Form 1040 Schedule C with no employees should enter their net profit from their 2019 or 2020 Schedule C (line 31). PPP loans for Schedule C filers not approved by March 3, 2021 may use either net profit or gross income (line 7), plus employee payroll (if applicable.)

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